Investing.com -- Porsche (ETR: PSHG_p ) shares traded higher on Tuesday after the carmaker reported that nearly 40%t of its global deliveries in the first quarter of 2025 were electrified vehicles, underscoring momentum in its electric shift even as total sales declined.

Between January and March, Porsche delivered 71,470 vehicles worldwide — down 8% from the same period last year. Of those, 38.5% were electrified models, including 25.9% all-electric vehicles and 12.6% plug-in hybrids.

The Macan led sales for the quarter with 23,555 units, up 14% year-on-year. The all-electric version was a key driver of the company’s rising electrification, comprising over 60% (14,185 units) of the total.

The older combustion-engine Macan remains available in most markets outside the EU, accounting for 9,370 deliveries.

The new Panamera saw the strongest growth across Porsche’s lineup, rising 27% to 7,769 deliveries.

In contrast, the 911 recorded 11,390 units, a 12% drop due to high sales of the previous model last year and a phased rollout of new variants in 2025.

The 718 Boxster and Cayman fell 22%to 4,498 deliveries, largely due to European cybersecurity-related supply issues.

Taycan deliveries dipped slightly by 1% to 4,203 units, while the Cayenne fell 28% to 20,055, following a surge in Q1 2024 linked to catch-up deliveries.

Regionally, North America was Porsche’s strongest performer, with a 37 per cent increase in deliveries to 20,698 vehicles — a rebound from import-related delays last year.

The "Overseas and Emerging Markets" segment also grew, with deliveries rising 6 per cent to 15,789 units.

Deliveries fell in Europe and China. In Porsche’s home market of Germany, sales dropped 34% to 7,495 vehicles. Across the rest of Europe, deliveries declined 10% to 18,017.

Both regions were impacted by strong prior-year comparables and new cybersecurity regulations affecting key models.

China recorded the steepest decline, down 42% to 9,471 units, which Porsche attributed to economic headwinds and a continued focus on profit-focused sales strategy.

"The Macan performed very well in the first quarter and, with the all-electric variant, is making a significant contribution to our increased electrification rate," said Matthias Becker, member of the executive board for sales and marketing at Porsche AG.

"Overall, we have a very balanced powertrain mix that reflects the different preferences of our customers, globally."

Becker said Porsche will continue offering electric, hybrid, and combustion-engine options across its model range well into the next decade.

He also reaffirmed the company’s “value over volume” approach: “We are working closely with the various sales regions and will consistently focus on matching demand and supply.”